Core Molding Q2 net income drops to $1.78 million; revenue falls to $62.73 million

Core Molding Technologies posted Q2 net income of $1.78 million, down 56% year over year; EPS fell to $0.21.

Revenue dropped to $62.73 million from $79.24 million, reflecting a sharp fall in tooling project revenue to $1.84 million from $17.61 million.

Gross margin widened to 20.3% from 18.1%; excluding a one-time capacity charge, margin rose to 19.4%.

SG&A increased to $10.43 million, including $1.3 million of Mexico expansion costs and $487,000 in severance.

Outlook calls for 2026 revenue to rise about 0% to 5% versus 2025, with the second half expected to exceed the first half.